StoneX Trading Logo

Weekly Equities Forecast: Apple, AMD, Palantir Technologies

This week's earnings come from Apple, which trades near its record high; AMD; Intel, which tanked 25% after its earnings; and Palantir Technologies.

Written by
Fiona Cincotta
Fiona Cincotta

Senior Market Analyst

Share:

Apple earnings preview

Apple will report earnings on Monday after the market close. So far, Apple has weathered the tech sell-off, with the share price rising to record highs. But the question will be whether earnings can justify its lofty valuation.

Expectations are for EPS of $1.98 on revenue of $113.4 billion, marking a 10% year-over-year gain in revenue.

iPhone revenue is expected to come in at $56.5 billion, accounting for around half of total sales.

According to Counterpoint data, iPhone 18 Pro sales are running around 3.1% ahead of where iPhone 17 Pro sales were in the first three weeks. This is an encouraging outlook, largely owing to strong sales in China compensating for weakness in the U.S.

Services revenue is expected to be $31.6 billion, helping margins, with gross margins projected at around 48%. The services business remains very much the margin driver. Guidance that holds and margins above 47% would likely reassure investors that this rally is supported fundamentally.

Apple's earnings come as the share price trades at a record high, setting the stock apart from the major sell-off seen in tech. However, that does raise the question of whether the lofty valuation can be supported.

How to trade AAPL earnings

image-20261101083825-2

Apple trades above its 200 and 50 EMAs, as well as its multi-month rising trend line, maintaining a constructive outlook. The price ran into resistance at a record high of 350 and trades just shy of these levels.

Buyers will look to rise above 375, extending gains towards 400.

On the downside, immediate support is seen around 340, at the rising trend line support, and the 50 EMA at 335. A break below the October low at 325 could spark a deeper sell-off towards 310, the September low.

AMD Q3 earnings preview

Advanced Micro Devices will announce third-quarter earnings on November 3.

The earnings come as the share price dropped over 6% on Friday, as a disappointing outlook from rival chipmaker Intel raised concerns over the outlook for demand in PCs, as well as the wider semiconductor market.

Intel shares fell 25% after the chipmaker's Q4 guidance came in substantially below Wall Street expectations, amid continued pressure on PC sales and an extended period of inventory adjustments.

This negative outlook has prompted selling across semiconductor stocks, with investors weighing up concerns that could weigh on AMD's upcoming results.

As a result, AMD's results are going to be particularly in focus, as the company competes directly with Intel in the market for PC processors. The weakness noted in Intel's business could be an important indicator of broader industry conditions.

Intel also indicated that inventory adjustments across the PC industry could continue through the first half of next year, suggesting that more time may be needed to bring inventory levels in line with demand. This can affect semiconductor companies by reducing new orders and limiting revenue growth until there is stabilisation.

For AMD, the potential implications include uncertainty surrounding demand for its client processors and the timing of a broader industry recovery.

These earnings will give an indication of whether the company is experiencing similar market pressures to Intel.

Particular attention will be on demand for PC processors and any commentary regarding inventory levels across the industry.

A key question will be whether AMD can maintain its competitive position despite weaker conditions in the broader market.

Expectations are for revenue of roughly $13.09 billion, up 41% year over year. EPS is expected to come in at $1.87 to $1.95, representing a 60% to 73% increase compared with the prior period.

How to trade AMD earnings

image-20261101083855-3

After running into resistance at the record high of 658, AMD rebounded lower. The price has fallen below the 50 EMA and the rising trend line, testing support at 505, the mid-August high.

Sellers, supported by momentum, will look to break below this level and turn attention to 445, the 200 EMA, and the September low.

Should support hold, resistance can be seen at 550, where the 50 EMA and rising trend line converge. A rise above 575, the weekly high, creates a higher high and turns attention to 659, the record level.

Palantir Q3 earnings preview

Palantir will report Q3 results on Monday, 2 November, after the market closes.

The earnings come as the share price has fallen in recent sessions but still remains up 60% over the past three months. The market will be looking to see whether business momentum can hold, especially among commercial customers.

Consensus estimates point to third-quarter adjusted earnings of 46 cents per share, up 84% from a year ago.

Revenue is expected at $2.16 billion, up 83% year over year, thanks to solid momentum in its U.S. business. This comes after second-quarter revenue surged 93% year on year to $1.94 billion, while U.S. revenue more than doubled to $1.57 billion, accounting for over 81% of total sales.

Given accelerating revenue growth and persistent demand for its AI platform, Palantir could exceed top-line guidance.

Customer acquisition and deeper engagement with clients are expected to drive growth.

Spending trends among large accounts highlight the growing adoption of Palantir's solutions, with revenue from its 20 largest customers over the trailing 12 months increasing 67% year over year and reaching $124 million.

Its U.S. government business is another key driver of growth, and U.S. government revenue rose 90% to $809 million in Q2.

Taken together, rising U.S. commercial sales, sustained government demand and an expanding customer base could support further gains in revenue and profit.

How to trade PLTR earnings

image-20261101083751-1

Palantir recovered from the 106 low in 2026, rising to a peak of 212, a record high, in early October. The price has eased lower and is testing support at the 50 EMA around 185.

Should sellers, supported by momentum with the RSI below 50, take out this support, attention turns to 165, the September low, and then the 200 EMA at 160. Below here, sellers could gain traction towards 145, the August 4 low.

Should support hold, attention will turn to 200, last week's high and the October 22 high. Above here, attention turns to 213 and record levels.

Web Trader platform

Our sophisticated web-based platform is packed with features.

Open an account today

Experience award-winning platforms with fast and secure execution.

Economic calendar

Related articles